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Large language models are increasingly used in strategic decision-making settings, yet evidence shows that, like humans, they often deviate from full rationality. In this study, we compare LLMs and humans using experimental paradigms…
When creating policies, plans, or designs for people, it is challenging for designers to foresee all of the ways in which people may reason and behave. Recently, Large Language Models (LLMs) have been shown to be able to simulate human…
When robots share the same workspace with other intelligent agents (e.g., other robots or humans), they must be able to reason about the behaviors of their neighboring agents while accomplishing the designated tasks. In practice,…
In the present study, we investigate and compare reasoning in large language models (LLM) and humans using a selection of cognitive psychology tools traditionally dedicated to the study of (bounded) rationality. To do so, we presented to…
LLM-driven multi-agent-based simulations have been gaining traction with applications in game-theoretic and social simulations. While most implementations seek to exploit or evaluate LLM-agentic reasoning, they often do so with a weak…
Large Language Models (LLMs) are increasingly applied to domains that require reasoning about other agents' behavior, such as negotiation, policy design, and market simulation, yet existing research has mostly evaluated their adherence to…
The notion of bounded rationality originated from the insight that perfectly rational behavior cannot be realized by agents with limited cognitive or computational resources. Research on bounded rationality, mainly initiated by Herbert…
Large language models (LLMs) are increasingly proposed as agents in strategic decision environments, yet their behavior in structured geopolitical simulations remains under-researched. We evaluate six popular state-of-the-art LLMs alongside…
In experimental applications of bounded-reasoning models, behavior is often summarized by distributions of "levels". We argue that such summaries conflate two conceptually distinct dimensions: a player's type, capturing beliefs about what…
Large language models (LLMs) are increasingly used to simulate human decision-making, but their intrinsic biases often diverge from real human behavior--limiting their ability to reflect population-level diversity. We address this challenge…
The emergence of Large Language Models (LLMs), has opened exciting possibilities for constructing computational simulations designed to replicate human behavior accurately. Current research suggests that LLM-based agents become increasingly…
In this study, we propose LLM agents as a novel approach in behavioral strategy research, complementing simulations and laboratory experiments to advance our understanding of cognitive processes in decision-making. Specifically, we…
The rapid rise of large language models (LLMs) has shifted artificial intelligence (AI) research toward agentic systems, motivating the use of weaker and more flexible notions of agency. However, this shift raises key questions about the…
We study the problem of modeling a population of agents pursuing unknown goals subject to unknown computational constraints. In standard models of bounded rationality, sub-optimal decision-making is simulated by adding homoscedastic noise…
This paper asks whether large language models (LLMs) can be used to study the strategic foundations of conflict and cooperation. I introduce LLMs as experimental subjects in a repeated security dilemma and evaluate whether they reproduce…
As large language models (LLMs) have demonstrated strong reasoning abilities in structured tasks (e.g., coding and mathematics), we explore whether these abilities extend to strategic multi-agent environments. We investigate strategic…
Large Language Models (LLMs) like GPT-4 have revolutionized natural language processing, showing remarkable linguistic proficiency and reasoning capabilities. However, their application in strategic multi-agent decision-making environments…
This paper presents a novel approach to analyze human decision-making that involves comparing the behavior of professional chess players relative to a computational benchmark of cognitively bounded rationality. This benchmark is constructed…
Large language models (LLMs) are increasingly used in social science simulations. While their performance on reasoning and optimization tasks has been extensively evaluated, less attention has been paid to their ability to simulate human…
Game theory, as an analytical tool, is frequently utilized to analyze human behavior in social science research. With the high alignment between the behavior of Large Language Models (LLMs) and humans, a promising research direction is to…